Blockbuster: a kick-ass listing of its ups and downs
written on Sunday, March 19, 2006 by David Couchman
Today, we're going to talk about Blockbuster Inc. It is very rare to see me, David Couchman, write long articles. But, I'm obviously bored today. So, let's do it...
Well, let's go back to 1985... three years before I was born...
Anyway, it's 1985, Wayne Huizenga and some other dude opened the first Blockbuster store on October 19. Years later, Huizenga and some other dude argue on the future of the company. Huizenga suggests that they buy out other companies and change the name of their stores to their own name while the other guy suggested that they let people open franchises. Eventualy, after a disagreement, the other guy leaves, leaving Huizenga alone. What's the other guy's name? I'm too lazy to find out... he's stupid.
The company is sold to Viacom
On October 13, 1994, Blockbuster was sold to Viacom for $8.4 billion. This would be the start of a whole new era... or something.
Blockbuster loses money
Over the years, the company has lost a significant amount of money. Let's go through their kick-ass timeline of losses each year... you won't be surprised! In fact, you may have heard of some of these losses... they're pretty cool, if you like to make fun of companies for losing money... yes, losses.
The losses for 2005 are not known at this time. However, they did post a loss of $439 million during the third quarter of 2005.
Their stocks are doing "well"
Blockbuster is on the New York Stock Exchange, as of 2001. However, as of today, the stock is at $3.39 per share of stock. That is not even enough to get a movie rental at your local CANADIAN store.
Well, that's enough of their financial woes, time for their kick-ass purchases...
Viacom to Blockbuster: you're out
In October of 2004, Viacom told Blockbuster to separate from the company. This is good news for John Antioco.
Xtravision
Remember that time the company bought out that Irish company called Xtravision? Well, even though this company is respected in most countries, it is NOT respected in Ireland. So, they kept the Xtravision name.
Rhino Video Games
Well, there's that other time they bought out some company based in Gainsville, Florida.
That's enough coverage... there's a lot more to cover and I'm too lazy.
On October 13, 1994, Blockbuster was sold to Viacom for $8.4 billion. This would be the start of a whole new era... or something.
Over the years, the company has lost a significant amount of money. Let's go through their kick-ass timeline of losses each year... you won't be surprised! In fact, you may have heard of some of these losses... they're pretty cool, if you like to make fun of companies for losing money... yes, losses.
Remember that time the company bought out that Irish company called Xtravision? Well, even though this company is respected in most countries, it is NOT respected in Ireland. So, they kept the Xtravision name.
Well, there's that other time they bought out some company based in Gainsville, Florida.
